GIP Gippsland

RNS Number:2894P
Gippsland Limited
04 March 2008




Gippsland Limited ("Gippsland" or the "Company")

Issue of shares to employee

The Company announces the issue of 500,000 ordinary shares of no par value at an
issue price of nil to an employee.   The issue is a component of the employment
agreement for the Company's Regional Manager for the Middle East and North 
Africa.

The shares issued rank pari passu with existing ordinary shares in issue.

Application has been made for the new shares to be admitted to trading on LSE-
AIM and this is expected to take place on  12 March 2008.  However, the shares
are restricted from trading until after 1 March 2009.

Immediately after the issue of the above shares, the number of Gippsland shares
and options in issue will be as follows:

Ordinary Shares in issue:     293,698,772

Options in issue:             25,000,000 exercise price A$0.135, 26/5/2012
                              4,000,000 exercise price �0.07, 15/12/2011


For further information please contact:

Jack Telford        Gippsland Limited                T: +61 (0)8 9340 6000
David Newton        Seymour Pierce Limited           T: +44 (20) 7107 8336





                      This information is provided by RNS
            The company news service from the London Stock Exchange

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